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Leon Festinger's social comparison theory suggests that we compare ourselves to members of a reference group in order to assess our own behavior. (a) In thinking about your own tendencies to engage in social comparison, can you identify different reference groups that you use to assess distinct kinds of behavior (e.g., academic performance, athletic performance, etc.)? (b) What does your choice of reference groups tell you about the concept of social comparison?
As demand goes up, so does price. The decrease in production of other items decreases supply, and raises their price.
If the two firms each maximise profits independently, explain how much output would each firm produce. Explain how much quasi-rents would each factory earn.
Fiscal policy is most effective in controlling inflation when the economy operates in the _____ region of the aggregate supply curve.
An industrial firm can purchase a special machine for $22,000. A down payment of $2,500 is required, and the balance can be paid in 5 equal year-end-installments at 14% interest on the unpaid balance. As an alternative the machine can be purchased fo..
q.consider two firms each of which is issued three marketable pollution permits. for firm h the marginal cost of
Illustrate what is the expected value of your earnings from investing in General Motors stock.
Explain how much profit will the perfectly competitive firms earn. Explain how much profit will the monopoly firm earn.
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs. Describe the relation between marginal and average variable costs.
Big pharmaceutical companies are oligopolies and as such their strategic decisions are influenced by the rival's actions. Describe the pros and cons of the oligopolistic firms in the healthcare sectors
Your friend, Sarah Occupy, is complaining, “The one percent is at it again! They want to cut the payroll tax that employers pay to finance unemployment insurance. This will help employers but do nothing to help the workers.” Is Sarah right or wrong? ..
Data-driven decision-making is about ____________.
q1. price fixing is a per se violation of the clayton antitrust act. from the materials in the library and the internet
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